Home Technology Jio Platforms: Intel invest -$253.5 million In Reliance Jio

Jio Platforms: Intel invest -$253.5 million In Reliance Jio

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When Saudi Arabia’s PIF chipped in $1.5 billion into Jio Platforms on June 18, Mukesh Ambani, India’s richest person who helms it, had stated that it marked the conclusion of his company’s current phase of induction of financial partners.

But in only around twenty days, Jio Platforms has managed to bring into its fold in another marquee name.

Intel Capital, the American chipmaker Intel’s investment arm, is to add $253.5 million (Rs 1,894.50 crore) into Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

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Intel Capital’s investment will translate to some 0.39% equity stake in Jio Platforms on a fully diluted basis. Intel Capital joins the list of big names that have recently invested in Jio Platforms, taking the entire investment amount to over $15.5 billion (Rs 117,588.45 crore).

  • With this deal, Reliance Industries has so far divested 25.09percent of its stake in Jio Platforms.

Earlier this investment, Jio Platforms had raised $15.2 billion (Rs 115,693.95 crore) from eleven major global investors, including Facebook, Silver Lake (1 and 2), KKR, Vista Equity Partners, General Atlantic, Mubadala, Abu Dhabi Investment Authority, TPG, L Catterton and PIF.

One of the goals of the run of Reliance Industries has been achieved.

  • I hope to get a ‘digital transformation.’

Intel Capital invests in innovative businesses with a focus on disruptive technology regions like artificial intelligence, cloud computing, and 5G — opportunities.

In a media release, Mukesh Ambani, Chairman and Managing Director of Reliance Industries, stated, “We are delighted to deepen our ties with tech leaders who embody our vision of transforming India into a top Digital Society on earth. Intel is a true industry pioneer, working towards producing world-changing technology and inventions. Intel Capital has a great record of being a valuable partner for top technology companies internationally.”

Wendell Brooks, Intel Capital President, said, “Jio Platforms’ concentrate on applying its impressive engineering capacities to bring the ability of low-cost digital solutions to India contrasts with Intel’s purpose of delivering breakthrough technologies that enrich lives. We consider access and information can transform society and business. Through this investment, we are excited to help electronic fuel transformation in India, where Intel maintains an important presence.”

Since 1991, Intel Capital has invested US$12.9 billion in over 1,582 businesses globally, and 692 portfolio companies have gone public or participated in a merger.

Jio Platforms, with more than 388 million subscribers, has made substantial investments across its digital ecosystem, powered by leading technologies spanning broadband connectivity, smart devices, cloud and edge computing, big data analytics, artificial intelligence, Internet of Things, augmented and mixed fact and blockchain.

 

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Kumar Saurabh
Hi, I am a passionate blogger, gamer, movies, tv shows, and comic book lover. I am a tech freak guy and spend most of my time exploring new things in the world of technology. I write blogs about the information on tech, product reviews, and how giant tech companies like Apple, Google, Microsoft, Facebook changing our world, and love to share everything here at World Top Trend.

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